During Monday’s Morning trade, Shares of Midway Gold Corp. (NYSEMKT:MDW), remained flat to $0.04.
Midway Gold Corp., declares that it has organized a reduction in the workforce at the Pan Gold Mine (“Pan”) effective June 19.
Mining activities at Pan have been suspended. As a result, Ledcor CMI Inc., our contract mining company has reduced its workforce. Additionally, a portion of Midway’s Pan workforce will also be reduced. We continue to leach ore that has formerly been placed on the first lift of the heap leach pad at Pan however, the rate of recovery of gold has continued to fall short of expectations.
Midway Gold Corp. engages in the acquisition, exploration, and development of gold and silver mineral properties in North America. The company holds interest in the Pan and Gold Rock Projects located along the prolific Battle Mountain/Eureka gold trend; the Spring Valley property, which is located in the Spring Valley Mining District, Pershing County, Nevada.
Shares of FreeSeas Inc. (NASDAQ:FREE), inclined 36.93% to $0.09, during its current trading session.
The stock has the beta value of 4.53, and its volatility for the week is 59.69%, while for the month it is 32.28%. The company has the market capitalization of $2.39M. The company holds the book value per share of 1.29, whereas cash per share is 0.00. Price to book ratio remained 0.05, while price to sale ratio is 0.84.
FreeSeas Inc., through its auxiliaries, provides drybulk shipping services. Its vessels carry various drybulk commodities, such as iron ore, grain, and coal, in addition to bauxite, phosphate, fertilizers, steel products, cement, sugar, and rice. Its fleet comprises of five Handysize vessels and one Handymax vessel.
Finally, Exelixis, Inc. (NASDAQ:EXEL), gained 0.91%, and is now trading at $3.88.
On May 31, Exelixis, Inc. declared positive results from a phase 2 clinical study evaluating cabozantinib as a treatment for EGFR wild-type non-small cell lung cancer (NSCLC). The trial, Study E1512, is a randomized phase 2 trial by the ECOG-ACRIN Cancer Research Group of cabozantinib and erlotinib, alone or in combination, as second- or third-line therapy in patients with metastatic EGFR wild-type NSCLC. Exelixis formerly declared positive top-line results from this trial in November 2014. Data from the trial will be presented recently during an oral presentation (Abstract #8003) at the 2015 Annual Meeting of the American Society of Clinical Oncology (ASCO), which is being held this week in Chicago, Illinois. Study chair Joel Neal, M.D., Ph.D., of ECOG-ACRIN’s Thoracic Cancer Committee and an Assistant Professor of Medicine (Oncology) at Stanford University/Stanford Cancer Institute will present the results.
Study E1512 met its primary endpoint, demonstrating noteworthy enhances in progression-free survival (PFS) for cabozantinib and the combination of cabozantinib plus erlotinib when individually contrast to the erlotinib arm. The median PFS for the combination of cabozantinib and erlotinib was 4.7 months as compared to 1.9 months for erlotinib alone, a more than two-fold enhance that corresponds to a 65% reduction in the risk of disease worsening (hazard ratio [HR]=0.35, 80% CI 0.23-0.52, p=0.0005). The median PFS for cabozantinib monotherapy was 4.2 months as compared to 1.9 months for erlotinib alone, a more than doubling that corresponds to a 62% reduction in the risk of disease worsening (HR=0.38, 80% CI 0.27-0.55, p=0.0004).
Overall survival was a secondary endpoint of the trial. Median OS was 13.3 months for the combination of cabozantinib and erlotinib, and 9.2 months for cabozantinib alone, as contrast to 4.1 months for erlotinib alone. These results correspond to a 56% reduction in the risk of death (HR=0.44, p=0.004) for the combination of cabozantinib plus erlotinib, and a 41% reduction in the risk of death (HR=0.59, p=0.03) for the cabozantinib monotherapy arm, respectively, when individually contrast to the erlotinib arm. Objective response rate, another secondary endpoint, was 8% for the combination arm (2 partial responses [PR]), 14% (4 PRs) for the cabozantinib monotherapy arm, and 3% (1 PR) for the erlotinib arm. Stable disease as a best response was observed in 47% in the combination arm and 42% in the cabozantinib monotherapy arm, contrast with 17% in the erlotinib arm.
Exelixis, Inc., a biopharmaceutical company, develops and sells small molecule therapies for the treatment of cancer in the United States. The company offers COMETRIQ, an inhibitor of multiple receptor tyrosine kinases for the treatment of patients with progressive, metastatic medullary thyroid cancer.
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